67-69 78th Street, Middle Village, NY 11379

Property Description

Calling All Investors, Developers, & End-Users!!! 8.21 Cap 8 Unit Free Market Corner Mixed-Use Building In Middle Village For Sale!!! The Property Features Excellent Signage, Great Exposure, R4 Zoning, High 10’ Ceilings, (1) 3 Br. Apartment, (3) 2 Br. Apartments, (1) Studio Apartment, Basement, 200 Amp Power, Separate Meters, All New LED Lighting, A/C, +++!!! The Property Is Located In the Heart Of Middle Village 2 Blocks Off Metropolitan Avenue & Only Minutes From The Metro Mall!!! The Property Has 20’ Of Frontage On 78th St. + 101’ On 68th Ave.!!! Neighbors Include Starbucks, TD Bank, Webster Bank, Amazon, BJ’s Wholesale Club, UPS, Stop & Shop, CubeSmart Self Storage, HomeGoods, T.J. Maxx, Petco, Raymour & Flanigan, Ashley Furniture, Bob’s Discount Furniture, Sleep Number, CVS, 7-Eleven, Dunkin’, Dollar Tree, Dollar General, Michaels, Cold Stone Creamery, Chili’s Grill & Bar, California Pizza Kitchen, Panera Bread, Salvation Army, Dick’s Sporting Goods, Regal Cinemas, Wendy’s, McDonald’s, Arby’s, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site or The Next Home For Your Business!!! Income: Real Estate Office (400 Sqft.): $18,000 Ann.; Pays 30% Of Tax Above $16,780. Been Here 12 Years So Far. Middle Unit (700 Sqft. + 1,250 Sqft. LL): $30,000 Ann.; M-M. Accountant (Rear Unit): $25,200 Ann.; Lease Exp.: 5/1/27. Been Here 10 Years So Far. 1st Floor Studio Apt.: $19,200 Ann.; M-M. Been Here 3 Years So Far. 2nd Floor Front (2 Br. Apt.): $30,000 Ann.; M-M. Been Here 15 Years So Far. 2nd Floor Rear (3 Br. Apt.): $34,800 Ann.; Lease Exp.: 1/31/27. Been Here 4 Years So Far. 3rd Floor Front (2 Br. Apt.): $31,200 Ann.; Lease Exp.: 9/1/27. 3rd Floor Rear (2 Br. Apt.): $31,200 Ann.; Lease Exp.: 3/31/27. Been Here 3 Years So Far. Tax Rebate: $2,952.89 Ann. Gross Income: $222,552.89 Ann. Expenses: Gas: $3,933 Ann. (Heat Only) Electric: $667 Ann. (Hallway Only) Water & Sewer: $4,130 Ann. Insurance: $3,588 Ann. Taxes: $26,622.96 Ann. Total Expense: $38,940.96 Ann. Net Operating Income (NOI): $183,611.93 Ann. (8.21% Cap!!!)